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tv   [untitled]    March 30, 2015 12:30pm-1:01pm PDT

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use of that to make sure that the area is clear. we are confident the concrete was done. we wanted to make sure it was done far in advance for the rebracing to be done and it will be difficult as we get to the end of the trestle and more congested and need three cranes for the work to keep moving so getting the concrete done early we hope to avoid that. right now we're putting a lot of emphasis on the fabrication and watching the steel getting fabricated so there aren't any delivery hiccups there. >> thanks. >> anything else? >> thank you. i would like to ask craig to present the quarterly financial reports. >> good morning. i am here to give the quarterly financial reports and five in the package and following is a brief summary. the first is the budget actual report and through the end of the second quarter of the fiscal year we were within
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budget. capital expenses were 36% of the capital budget. operating expenses were 27% of the operating budget of the second report is the contract status report and this shows amounts authorized and spent for tjpa contracts as well as sbe and dbe activity. tjpa has distributed 162 million to these groups over the life of the program. the third report is the investment report and we invest in a variety of different investments such as treasuries, commercial paper, certificates of deposits. some of our certificates of depoiseits and commercial paper matured since the report and in january and february. a portion of the proceeds have been moved to the money market move funds for payment and the remainder was reinvested. the next report is the inception to date report and
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presents capital expenditures and revenues since the beginning of the program and the next is the program reserve and contingency status report. this report shows draws on the various contingencies and program reserve for construction contracts and change orders and that's my report and i will take any questions if you have them. thank you. >> great. our next item is the budget revision schedule. we have been working with the mayor's office and others with the timing and processing of what we need to did to bring to the board, informational items for the budget and the final budget for the board's consideration. everything is tied to when we need to open the station concurrent with the park at the latter end of 2017 and here to give the presentation is our ceo. we presented this to the cac this week and it was
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very well received and they concurred with scheduling and process approach. thank you sara and mark. >> good morning board directors. the board has awarded 90 knife -- >> >> $905 million for phase one. $20 million for utility location. $16 million for the demolition of the old terminal. $20 million for the temporary terminal and funds for the bus route. later we -- [inaudible] design services of the middle seating system to be awarded so the total amount to be awarded [inaudible] approximately $906 million. the budget for
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the remaining transit center [inaudible] for direct costs excluding the [inaudible] fee and bonding is approximately $187 million. the estimates for the packages for direct costs is approximately $214 million. the difference between the budget and the estimates for the [inaudible] packages is approximately $27 million. as a result this difference and as a result of some of the packages that came in above budget the costs have increased by approximately $15 million, 15.$8 million. this increase includes a increase in the fee, $5.8 million increase in the contingency that we need to add to the contingency and approximately $5 million for the increase in bonding cost. the cost of the [inaudible] does
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not include the cost of the roof top park, elements and heart scape and landscape and other elements. the cost of completing the roof top park is $38 million. for the bus storage the 65% contract estimate that we have indicates $2.4 million increase. our budget for this is approximately $16 million and the estimate is approximately 18.$4 million. we will explore engineering alternatives as we move the development to the bus storage from the 65% level to the 95% level. our current contingency balance and reserves as steve shared include $53 million for construction contingency. [inaudible] for the contingency and [inaudible]. this month we will be updating our risk assessment to determine the level of contingency in the reserves needed to complete construction take into other
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known exposures and potential future risks. the plan schedule for the budget update includes a presentation of the budget outlook for both phase one and the annual fiscal year 15-16 budget at the may board meeting and done as an informational item and include a narrative briefing in accordance to policy. in the june meeting we will present to the board a draft for the phase one budget and for fiscal year 15 15-16 budget as an informational item as well and we will recommend for approval the month -- july month for the 15-16 fiscal year budget. we are doing so in order to combine the phase one budget update and the fiscal year 15-16 fiscal budget development and approval at the may board meet ago sorry, july board meeting. with they will turn it over to sara to talk about the -- to present to you
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the schedule for the budget update and the drivers behind the schedule as well as the process by which we're going to develop the schedule in the fiscal year 15-16 budget. >> thanks mark. so those of you that are familiar recall our budget policy will have noticed that schedule is a month behind our typical fiscal year budget schedule and so i wanted to talk what's driving that schedule. as mark mentioned in march we will do a risk management refresh. it's one of our regularly scheduled quarterly risk management meetings. fta and their project manager oversight contractor will also participate with us in going through the risks and reassessing, and then our risk management consultant will rerun the model to help determine what the appropriate amounts of contingencies and reserves are
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as mark mentioned so that will be done in march with the results available in april. also in april the sponsorship proposals will be received towards the ends of the month so we know how much funding is available from that source, and by may we will have bids received for all packages except the ip network which is a later package to take advantage of advances in technology and then in june we will be coming with the construction costs of the design packages you will be awarding or considering and the curtain wall and ceilings. you will have awarded the contracts and the costs will be finalized by june so those are the drivers behind the proposed schedule with the outlook in may, drafts in june and adopting the one month interim budget and under
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our policy is 1/12 of the previous fiscal year budget and then final in july for both budgets. the process that we will be going through tjpa staff and consultants and staff and the turner construction management team as well as our stakeholders particularly fta and rfa will update the modeling to inform the contingency levels and primarily tjpa staff and the consultant working on the up date based on the known bids, those recommended contingency levels and of course funding availability. for the fiscal year budget the program management team updates the projected cash flow. of course that will be updated on the recommended phase one overall budget and our finance staff takes the slice we always call
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it, the amount of the projected cash flow that's projected for the coming fiscal year. that's for the capital side. for the operating side we work with the facility manager and consult with ac transit on what the needs are for the operational budget for the temporary terminal, so again presenting in may the budget outlook draft budgets in june, and that concludes our presentation. we're happy to answer any questions. >> sara, one of the things i did after i became chair i reread our organizational documents, and what struck me is an unusual situation and you you're a board officer, and i'm not sure exactly what that means in your mind but it probably means that at least one of our agencies thought it important
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that you have some sense of independence and responsibility with respect to the financial things, the financial situations and the financial decisions, and the financial modeling. is that your reading as well? >> i have to confess i haven't really thought about it. the chief financial officer prior to us really having much in the way of financial work was ed harrington because he was the controller of the city and county of san francisco and there was very little in the way of accounting transactions. we had -- because we were a sub grantee to muni they were the accountant so to speak so we had an excel accounting system and little for ed to do. once a month we would sit with him and
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he would look at our journal entries and he would sign off on them. as activities picked up we implemented our own accounting system and ed was moving to puc at the time and fred clark who was at mta and trying to retire but we went let him and he was appointed but he was with tjpa as well and that seemed like a natural progression and i do take my duties very seriously. >> as i do as well and board officers are special and it's fine being -- you need to be an employee. i don't want to denigrate that or misdirect that at all but in my mind should
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suggest to you that you have a degree of autonomy beyond what you would otherwise think and for this budget and for other financial things you have a degree of responsibility beyond what you would otherwise have -- at least that's how i would read what being a board officer was intended to be from the agencies that signed the organizational documents, and as i say it's a little unusual, at least in my experience. nonetheless it needs to be honored, and you should be as well and i was surprised to see it. i didn't realize that. i had forgotten it really what it means but this is very critical in terms of the way you should look at this whole process in my mind about that. the other -- the thing that concerns me is the fact this is late as you point out or
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as mark pointed out. i don't remember which. and we're not meeting in august, is that right? we usually don't. >> no. >> so we're right up to taking it right to the edge of what might be -- may or may not be comfortable for this, and i really do -- i really wish we could get it done in june so that we would have our last meeting to do some sort of thing to resolve some things, and i don't know what you could do to advance that and get it more on a schedule, but as you say now we have to do an interim budget because it's that month late and that is more of a pain. >> if i may. i am not concerned at all about the interim budget. we have done it in the past and just as a reminder we are a bit unique with our fiscal year budget. it is really is just a slice of the overall program budget. it's
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really not the driver behind budget decisions and operational decisions. it's really -- it's done frankly to comply with the budget policy but we really live by the overall program budget and if construction is accelerated going on faster than participated than the fiscal year is amended appropriately to reflect that or conversely if something is not moving as quickly as we might have anticipated when we did the fiscal year budget, so we have done the interim budget before. i don't recall the last time but a couple years ago we did an interim budget for the july and again it's just 1/12 of the fiscal year budget. >> and you have no reason that the fta or anything would look at this fact askance? >> no. >> could have been done this earlier? >> no. and we report to them
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really on a grant basis so they're looking at quarterly financial information based on the grants they have awarded. >> what will we be getting in may? >> it's a narrative outlook. i can send you what we did in previous years for the fiscal year budget. it outlines what we accomplished in the previous fiscal year lays out the categories of expenditures and a narrative description of what they are as well as the funding sources, describes the funding sources, so it will be that but larger because it's fiscal year and program budget. >> i hope that we could add to that would be in may some of the issues that you are looking at and dealt with in terms of this is what is coming up. i know for example one that recently that has come up with a couple of board members is whether the idea that the money that would
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come from sponsorships would be operating money or capital money and that is an issue in may here's why we think it should be one or the other because i know that's surprised me and another director as to the categorization of that, so issues like that i think is what i would like to see in may so we could then in june when we just are looking at numbers we could say okay these numbers reflect issues that were discussed in may and so then i think we can look at okay june is a pretty safe document and at july at the last meeting before we take our summer break maybe safer with. >> we can certainly address that issue and i anticipate that we will be discussing the issues in the risk assessment as well and pointing those out -- >> that would be a very good one to add to that.
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>> yeah director harper what we're doing in may is giving updates to what is in the slide today and how much bidding and exposure is left and the results of the risk management meetings and results of the sponsorship. sponsorships come in at the end of april. we may have indication at this point also on the revenue source, so it could be more update with more information. by the june meeting we would open old bits with the exception of the ip network and tablet it'll us the availability of funds. >> >> and how much we need and we would finalize the risk management and what we should be doing to reach the recommended levels in the june meeting so we will be providing information as we move forward. >> okay. >> i pointed out on the schedule it does show the
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drivers and we want to finish the plan to see this going forward and the chances [inaudible] >> may is a big meeting. that's what i consider to be the meeting because out of may will follow a number of things. >> and i am glad you agree i should be an employee. i love this project but i need a paycheck. >> no problem with that. we get the directive and blame you when something goes wrong. all right. thank you. any other? >> all right. i wanted to mention two other things with respect to the temp nal and the first is on february we had a chance for the public to look at the double decker bus they're looking at as part of a pilot study to see if it makes sense
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to be part of the fleet and the bus would work for the new terminal and the transit and we are making sure the vehicles can be accommodated. with amtrak we entered into a lease with them and operating out of the temporary terminal and i wanted to give a quick update on that so the public understands where to go to get the shuttle buses that are operating out of that terminal. >> good morning directors. i am with the program management team. i have a brief update on the amtrak bus service at the temporary terminal. just by way of background they were previously at the ferry plaza building adjacent to the oakland alameda ferry location. this board approved their lease back
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in october of 2014. the lease area was shelf space basically within the greyhound building, unused space they opted not to lease. amtrak proceeded with their tentative improvements and included new store front entry, ticket counter, waiting area, small office area, storage room, a break area for the employees and employee restroom, and that was completed in early march so they began passenger service on march 1. amtrak runs approximately 56 buses a day in and out of the temporary terminal and their service primarily is to oakland and emeryville stations to serve the corridor train lines. they also do have some bus service going
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down to san joaquin area and the pacific coast and the bus runs on the coast. this diagram is a site plan showing the temporary terminal and you can see in red the two end bus births are exclusive use for amtrak and always designated for an alternate carrier so we are anticipating a carrier like amtrak come in and in blue is designated for greyhound and the two in green at the end are shared spaces. amtrak's lease also gives them two parking spaces within the customer parking lot and this is a diagram showing the interior of the building so in red you can see the amtrak space. in green is common shared space with greyhound. it's primarily a waiting room and greyhound is shown in blue on the west end
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of the building. and this is a more detailed floor plan of the tenant improvement for amtrak. the area in black is the build out area. the areas in blue are existing so you will see they're sharing the customer restrooms flanking both sides of the build out, but they have a ticketing area. you can see the break room and restroom and office, a baggage and storage area and they. >> out the -- they go out the door and bring baggage directly to the buses. >> >> this is a photo shot of the graphic that we worked with mtc so this the digital graphic on the mountainament signs around the temporary terminal and showing the amtrak logo and how you access it from folsom street and there are photos showing
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the bus. there is a bus leaving the temporary terminal and exiting and an interior shot showing customers at the ticket counter. any questions? >> i have one comment though. being from emeryville i am quite familiar with amtrak leases. i was on the council when the station was built and i can tell you the experience of at least that lease is that the attitude of amtrak employees who have to follow it and execute it is well there is some amtrak operational thing and this is what we do whether the lease allows it or not, so you need to be careful -- >> we are watching out for that. >> maybe i don't know maybe the bus is a different thing but they had a caviler attitude on
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how they would operate no matter what the lease says so watch out for that. >> okay. >> i was surprised to see that west cat is in the temporary terminal. >> yes. they always had one birth there. >> they have a lease with us or who? >> ac is the master leasee for the area and have a mou with west cat. i'm not sure if it's in place but they're working on it. >> i think we're looking for it. okay. >> thank you. finally directors i wanted to mention that we have our applications out for the high school summer interns that would be employed out of the offices as well as the tjpa. applications are due march 31 and as students begin working on june 8 and they can download the applications from
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our website and. >> to the section "about tjpa" and internship opportunities so we had a success program in the last couple of years and look forward to receiving good applications. that concludes my report. thank you. >> thank you. >> we will move into the next item and item 7 is the citizens advisory committee update. >> good morning directors -- pardon me. >> sorry, i meant item 6, i'm sorry. >> i was very happy to hear paul's presentation. i certainly will ask to have that presented to our cac. tremendous figures which i am always looking at. at our meeting this week we were very sorry to see margie clellen's retirement. she has been invaluable to us and the only benefit they see that -- many benefits for her in coming
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retirement but the main benefit for us instead of being our wise and silent partner now she can join us in the public and have a say in whatever we discuss. the second point i would mention is that in the fall scott is going to program on our schedule to meet with the police commander for the vision zero so this is something that's a concern of the city, but we're very grateful that we will be meeting together, and vice chair nuru we will be implementing those films with our contractors too, so we were very happy to hear scott speak to that. we heard mark and sara speak and we're very grateful for sara's expertise in this and the historical perspective so we were assured
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by that as well as we were with steve's overview with steve and the team and the contractors about the delays and their fiscal responsibilities there, and so we feel it's in very good hands but something that we remain looking at. the last thing i would mention would be in terms of public discussion was brought up as it is perennially in all the years i have been on the cac about sea level rise, and we just wanted to be sure of how our center will fare and look forward to the staff and the city getting together to make sure that we're protected. any other questions? >> are you asking for a dike or what?
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>> thank you. [laughter] >> we were looking -- especially at tidal -- >> supervisor kim. >> i wanted to thank the cac and particularly for the advocacy on vision zero. it's great you're meeting with all of the departments and i would love to come when the commander comes and i don't know if i am available. i should know the answer to this but i don't. it's not for the chair although you may know the answer to this. i know that sometimes when there are large scale constructions that the project will hire additional -- either sfmta traffic enforcers or sfpd to guide traffic and i know congestion is an increasing issue in the south of market. we thanks to the leadership of ed reiskin we are doing more don't block the box with the sfmta parking control officers
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which is great for the neighborhood. i am curious how the project also adds to that with the staffing that it hires to make sure that traffic is moving, that cars aren't blocking the box and getting into crosswalks with pedestrians and bike lanes. >> so the actual traffic officers work on the block the box. when contractors can employ they use the off duty officers and they're scheduled out days weeks, and months in advance to be at key positions and points. when we were hauling dirt at the beginning they were there 24/7 and the parking control officers are in addition when they see certain lane changes and certain parking -- or traffic permits in use they will apply parking control officers for those as well. >> and also just as a reminder part of the operating budget at the temporary terminal is with